Intellizence tracks the latest layoff, downsizing, employee termination, furlough announcements from multiple news and regulatory filings. Following is the highlight of a few major layoffs of the week ending August 8th, 2020.
Some of the major layoffs announced during the week are:
Pratt & Whitney – US aerospace giant laid off around 400 Singapore staff at five of its six facilities amid the pandemic-induced downturn in the aviation industry
Booking.com – Booking.com – The online-travel agency plans to lay off up to 25% of its workforce. The move will affect more than 4,000 employees as the Covid-19 pandemic continues to hurt global travel
Accor – France’s Accor, the world’s sixth-largest hotel chain is slashing 1,000 jobs worldwide in a major cost-cutting plan accelerated by the effects of the coronavirus pandemic
Virgin Australia – Pandemic-struck airline Virgin Australia announced it would close its budget subsidiary Tigerair Australia and lay off 3,000 staff as it prepares to relaunch under new owners.
Remington Arms – More than 700 workers at the Remington Arms plant in central New York face layoffs by late September as the company goes through bankruptcy proceedings
Lufthansa – German airline Lufthansa does not expect air travel demand to recover to pre-pandemic levels until 2024 and will cut 22,000 jobs as part of a restructuring program
3M – The company has cut 1,700 more jobs after selling a business and grappling with virus slowdown